Bitcoin (BTC) has finally hit a new all-time high in U.S. dollars as the digital asset’s price action sees it re-entering uncharted territories after beating final resistance to surpass April’s peak. The surge which has been under the close monitoring of keen eyes, now pushes BTC/USD into price discovery.
Bitcoin (BTC) re-enters price discovery
Data available on Tradingview shows Bitcoin breaching the $64,900 resistance that has been in place since April.
The BTC/USD surge is coming ahead of the upcoming U.S open, as well as in the second day of trading for the now popular ProShares Bitcoin Strategy ETF. Apparently, all that the pair does in recent times is to surge, and keep surging even the more.
Now’s definitely not a good time for whoever sold their Bitcoin, seeing how well the asset is doing across board. In recent times, we’ve witnessed Bitcoin seeing all-time highs against quite a number of major fiat currencies, including the euro.
Meanwhile, as we reported on TheCoinrise, there are various data reports suggesting that there’s more to come. This implies that, Bitcoin is expected to hit even higher levels in the coming months
Also highest predictions for the short term currently hover around as much as $300,000 per bitcoin.
Bitcoin season picks up fully
As it is now, many indicating factors point to the fact that Bitcoin’s season will come before that of altcoins, even as the latter continued to suffer against BTC on the day.
Also, Bitcoin’s market capitalization dominance is at its highest since May (47%), says CoinMarketCap records.
Hopefully, the fortunes of altcoins would see a turnaround in the first half of 2022.